Sources: Wall Street and crypto industry representatives make ‘progress’ in closed-door meeting on crypto bill

Foresight News, according to Decrypt, sources revealed that Wall Street industry group SIFMA and crypto industry representatives held a closed-door meeting on Thursday to try to resolve major differences before the crypto market structure bill faces a key Senate vote next week. The meeting made “progress” on DeFi issues. SIFMA recently opposed the bill’s regulatory exemptions for certain DeFi services and developers. Additionally, SIFMA and the banking industry lobby are pushing for a ban on yield-based USD stablecoins. Senate Banking Committee Chairman Tim Scott plans a key review of the bill on January 15.
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